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Property taxes can be a major expense for households, and several factors may affect the size of the bill, research shows.
These levies, which typically fund public services, such as K-12 education, police and firefighters, can be tough to compare across jurisdictions.
But there are four key reasons for differences: property tax reliance, property values, local spending and classification, according to a new report from the Lincoln Institute of Land Policy and Minnesota Center for Fiscal Excellence.
“In some communities, local residents are…